Recognition of decisions on confiscation and freezing of assets between states can increase pressure on the aggressor from different parts of the world simultaneously. This position was expressed by the delegation of the Asset Recovery and Management Agency (ARMA) at an international conference dedicated to the exchange of experience between asset recovery agencies.

The event was held online as part of the RECOVER project and brought together representatives of prosecutors, judges, asset recovery agencies, and universities from more than 10 EU member states. In particular, representatives from Italy, France, Poland, Romania, Germany, Portugal, the Netherlands, Lithuania, Spain, and Bulgaria took part in the discussion. Ukraine was represented by ARMA.

‘Coordination between asset recovery authorities in different countries is key to depriving criminals of their illicit proceeds. Effective and efficient procedures for mutual recognition of decisions on freezing and confiscation of assets are exactly what those who are trying hard to hide their assets in other jurisdictions are afraid of,’ emphasized Vladyslav Zhornytskyi, Head of International Department of ARMA.

The Ukrainian side called on international partners to join efforts to find and confiscate russian assets abroad. According to ARMA representative, Ukraine is ready to exchange information with international partners on the identification of russian assets, in particular within the framework of the implementation of European legislation and procedures for mutual recognition of decisions on confiscation and freezing of assets.

In addition, the conference participants were presented with the results of ARMA's work over the past six months, including the sale of the 92-meter yacht of collaborator viktor medvedchuk 'Royal Romance'.